U.S. Installs 6.2 GW of Solar PV in 2014
According to a new report from GTM Research and the Solar Energy Industries Association, newly installed U.S. solar photovoltaic capacity for 2014 reached a record 6,201 MW, growing 30 percent over 2013’s total. An additional 767 MW of concentrating solar power (CSP) came online in the same period.
Solar accounted for 32 percent of the nation’s new generating capacity in 2014, the report says, beating out both wind energy and coal for the second year in a row. Only natural gas constituted a greater share of new generating capacity.
In 2014, the three major U.S. market segments – utility, commercial and residential – each installed more than a gigawatt of PV. This is the first time all three have done so in the same year.
According to the report, the U.S. utility-scale segment broke the gigawatt mark in 2011 and has since grown by nearly 1 GW annually. In 2014, 3.9 GW of utility-scale PV projects came online, with another 14 GW of projects currently under contract.
In 2014, the commercial segment installed just over 1 GW, down 6 percent from 2013, the report notes.
The U.S. residential segment has passed the gigawatt mark for the first time, with 1.2 GW installed. Residential continues to be the fastest-growing market segment in the U.S., the report says, with 2014 marking three consecutive years of greater than 50 percent annual growth.
Additional key findings of the report include the following:
- By the end of 2014, 20 states passed the 100 MW mark for cumulative operating solar PV installations – California alone has an installed capacity of 8.7 GW;
- More than 500 MW of residential solar installations came online without any state incentive;
- Growth remains driven primarily by the utility solar PV market, which installed 1.5 GW in the fourth quarter of 2014, the largest quarterly total ever for any market segment;
- PV installations are forecast to reach 8.1 GW in 2015, up 59 percent over 2014;
- CSP had a record year in 2014, with 767 MW brought online; and
- As of the end of 2014, cumulative operating PV in the U.S. totaled 18.3 GW and cumulative operating CSP totaled 1.7 GW.
More information on the report, “U.S. Solar Market Insight 2014 Year in Review,” is available here.
About NC Solar Now: NC Solar Now is your trusted local solar installation partner. We are a pioneering force in empowering communities across North Carolina with sustainable energy solutions. As a leading solar provider, we specialize in designing, installing, and maintaining state-of-the-art solar systems tailored to meet the unique needs of our customers.
NC Solar Now takes pride in being certified experts in solar installation, ensuring the highest standards of quality, safety, and professionalism in every project we undertake. Our team consists of highly trained technicians who are certified by leading industry organizations, equipped with the knowledge and expertise to deliver superior solar solutions tailored to your needs.
By choosing NC Solar Now, you can trust that your solar installation will be carried out with precision and attention to detail, meeting and exceeding industry standards. Our certifications not only demonstrate our commitment to excellence but also provide you with peace of mind knowing that your solar system is in the hands of skilled professionals. Experience the difference that certification makes with NC Solar Now and embark on your journey towards a brighter, more sustainable future today.
NC Solar Now excels in providing comprehensive solar savings analyses, offering invaluable insights into the financial benefits of transitioning to solar energy. Leveraging their expertise and cutting-edge technology, NC Solar Now conducts thorough assessments tailored to each client’s specific needs and circumstances.
Through meticulous examination of energy usage, local incentives, and system configurations, they empower individuals and organizations to make informed decisions about their energy future. By showcasing potential cost savings and return on investment, NC Solar Now enables clients to envision the long-term economic advantages of solar adoption. With a commitment to transparency and accuracy, their solar savings analyses serve as invaluable tools for navigating the transition to clean, renewable energy with confidence and clarity.
Committed to innovation, reliability, and environmental stewardship, NC Solar Now transforms spaces, illuminating a brighter, greener future for homes and businesses. Join us in harnessing the sun for a cleaner, more sustainable North Carolina. We are NABCEP Certified! Check us out on Facebook or Instagram. Visit us online at NC SOLAR NOW, send us a message, or call us at 919-833-9096.